Group fighting terrorist financing grants Israel observer status

At its plenary meeting in Paris last week, the Financial Action Task Force, an international group that fights money laundering and terrorist financing, granted Israel observer status.

The FATF, based in Paris, comprises 34 member nations. It was founded by the Group of Seven nations (G-7) in 1989.

It is expected Israel will become a full member of the FATF in October 2018.

Carmel Shama Hacohen, Israel’s envoy to the OECD, UNESCO and the Council of Europe  said: “With its experience and knowledge, Israel has much to contribute to this group [the FATF].”